Bank of Thailand keeps interest rate at 2.5%, defying PM Srettha

BANGKOK -- The Bank of Thailand held its benchmark rate steady at 2.5% on Wednesday for the third straight meeting, seeing sufficient signs of future inflation and high consumer debt to defy Prime Minister Srettha Thavisin's monthslong calls for monetary easing.

The BOT's monetary policy committee voted 5-2, with two members supporting a rate cut of 25 basis points. Srettha has insisted the central bank's high rate regime has persisted for too long at the cost of private investment, indebted households and economic growth.